Relief Therapeutics Announces Conclusion of Merger Discussions with Renexxion
Relief Therapeutics (RLFTY) has announced the termination of merger discussions with Renexxion, Inc. The talks, which began with a non-binding letter of intent in November 2024, were discontinued as key conditions for the transaction were not met within the required timeframe.
Despite the merger's discontinuation, Relief maintains a strong position with CHF 15 million in cash reserves and access to a CHF 50 million undrawn equity facility from their largest shareholder GEM. The company remains focused on advancing its core development programs and strategic objectives independently.
Relief will provide a detailed business update in their 2024 Annual Report, scheduled for release on April 10, 2025.
Relief Therapeutics (RLFTY) ha annunciato la cessazione delle discussioni per la fusione con Renexxion, Inc. I colloqui, iniziati con una lettera di intenti non vincolante nel novembre 2024, sono stati interrotti poiché le condizioni chiave per la transazione non sono state soddisfatte entro il termine richiesto.
Nonostante l'interruzione della fusione, Relief mantiene una posizione solida con 15 milioni di CHF in riserve di liquidità e accesso a un facilità di capitale non utilizzata di 50 milioni di CHF da parte del loro maggiore azionista GEM. L'azienda rimane concentrata sullo sviluppo dei propri programmi principali e sugli obiettivi strategici in modo indipendente.
Relief fornirà un aggiornamento dettagliato sulle attività nel loro Rapporto Annuale 2024, previsto per il rilascio il 10 aprile 2025.
Relief Therapeutics (RLFTY) ha anunciado la terminación de las conversaciones de fusión con Renexxion, Inc. Las negociaciones, que comenzaron con una carta de intención no vinculante en noviembre de 2024, se interrumpieron ya que no se cumplieron las condiciones clave para la transacción dentro del plazo requerido.
A pesar de la interrupción de la fusión, Relief mantiene una posición sólida con 15 millones de CHF en reservas de efectivo y acceso a una facilidad de capital no utilizada de 50 millones de CHF de su mayor accionista GEM. La empresa sigue centrada en avanzar en sus programas de desarrollo clave y objetivos estratégicos de manera independiente.
Relief proporcionará una actualización detallada de negocios en su Informe Anual 2024, programado para su publicación el 10 de abril de 2025.
Relief Therapeutics (RLFTY)는 Renexxion, Inc.와의 합병 논의를 종료한다고 발표했습니다. 2024년 11월 비구속적인 의향서로 시작된 논의는 거래를 위한 주요 조건이 요구된 시간 내에 충족되지 않아 중단되었습니다.
합병이 중단되었음에도 불구하고, Relief는 1500만 스위스 프랑의 현금 보유액과 최대 주주 GEM으로부터의 5000만 스위스 프랑의 미사용 자본 시설에 접근할 수 있는 강력한 입장을 유지하고 있습니다. 이 회사는 핵심 개발 프로그램과 전략적 목표를 독립적으로 추진하는 데 집중하고 있습니다.
Relief는 2024년 연례 보고서에서 자세한 사업 업데이트를 제공할 예정이며, 이 보고서는 2025년 4월 10일에 발표될 예정입니다.
Relief Therapeutics (RLFTY) a annoncé la cessation des discussions de fusion avec Renexxion, Inc. Les pourparlers, qui ont débuté par une lettre d'intention non contraignante en novembre 2024, ont été interrompus car les conditions clés de la transaction n'ont pas été remplies dans le délai imparti.
Malgré l'interruption de la fusion, Relief conserve une position solide avec 15 millions de CHF de réserves de liquidités et un accès à une facilité de capital non utilisée de 50 millions de CHF de son principal actionnaire GEM. L'entreprise reste concentrée sur l'avancement de ses programmes de développement clés et de ses objectifs stratégiques de manière indépendante.
Relief fournira une mise à jour détaillée de ses activités dans son Rapport Annuel 2024, prévu pour publication le 10 avril 2025.
Relief Therapeutics (RLFTY) hat die Beendigung der Fusionsgespräche mit Renexxion, Inc. bekannt gegeben. Die Gespräche, die im November 2024 mit einem nicht bindenden Absichtserklärung begannen, wurden eingestellt, da die wesentlichen Bedingungen für die Transaktion innerhalb des erforderlichen Zeitrahmens nicht erfüllt wurden.
Trotz der Beendigung der Fusion hält Relief eine starke Position mit 15 Millionen CHF an Barreserven und Zugang zu einer nicht in Anspruch genommenen Eigenkapitalfazilität von 50 Millionen CHF von ihrem größten Aktionär GEM. Das Unternehmen bleibt darauf fokussiert, seine Kernentwicklungsprogramme und strategischen Ziele unabhängig voranzutreiben.
Relief wird in ihrem Jahresbericht 2024 ein detailliertes Geschäftsupdate bereitstellen, das für die Veröffentlichung am 10. April 2025 geplant ist.
- Strong cash position of CHF 15 million
- Access to CHF 50 million undrawn equity facility from GEM
- Reported progress in core development programs
- Failed merger attempt with Renexxion
- Key transaction conditions not met within deadline
GENEVA, SWITZERLAND / ACCESS Newswire / March 6, 2025 / RELIEF THERAPEUTICS Holding SA (SIX:RLF)(OTCQB:RLFTF, RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, today announced that discussions regarding a potential merger with Renexxion, Inc. (Renexxion) have been terminated.
After signing a non-binding letter of intent in November 2024, both companies engaged in discussions to form a combined entity with an expanded therapeutic pipeline. However, key conditions necessary to finalize the transaction were not met within the required timeframe. As a result, both parties have mutually agreed to discontinue negotiations.
"While we ultimately decided not to proceed with Renexxion, Relief remains well-positioned to advance its strategic objectives independently. In recent months, we have made meaningful progress across our core development programs and continue to build momentum. With a robust pipeline and around CHF 15 million in cash reserves, along with a CHF 50 million undrawn equity facility from our largest shareholder GEM, we are confident in our ability to execute our development strategy while continuing to explore opportunities to maximize shareholder value," said Dr. Raghuram Selvaraju, chairman of the board of directors of Relief.
The Company also announced that it will provide a comprehensive business update in its 2024 Annual Report, scheduled for publication on April 10, 2025.
ABOUT RELIEF
Relief is a commercial-stage biopharmaceutical company committed to advancing treatment paradigms and delivering improvements in efficacy, safety, and convenience to benefit the lives of patients living with select specialty and rare diseases. Relief's portfolio includes revenue-generating products, commercialized through licensing and distribution partnerships, and a targeted clinical development pipeline. Relief's pipeline consists of risk-mitigated assets in three core therapeutic areas: rare skin diseases, rare metabolic disorders, and rare respiratory diseases. Key development programs include RLF-TD011, a stabilized hypochlorous acid solution designed to improve wound healing and infection control in epidermolysis bullosa, and RLF-OD032, a ready-to-use liquid formulation of sapropterin dihydrochloride aimed at enhancing treatment adherence in phenylketonuria patients. Headquartered in Geneva, Relief is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbols RLFTF and RLFTY. For more information, visit www.relieftherapeutics.com.
CONTACT:
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
contact@relieftherapeutics.com
DISCLAIMER
This press release contains forward-looking statements, which may be identified by words such as "believe," "assume," "expect," "intend," "may," "could," "will," or similar expressions. These statements are based on current plans and assumptions and are subject to risks and uncertainties that could cause actual results, financial condition, performance, or achievements to differ materially from those expressed or implied. Such factors include, but are not limited to, changes in economic conditions, market developments, regulatory changes, competitive dynamics, and other risks or changes in circumstances. This communication is provided as of the date hereof, and Relief undertakes no obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
Additional features:
File: Ad hoc
SOURCE: Relief Therapeutics Holding SA
View the original press release on ACCESS Newswire
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